|Jeffrey L. Rodengen. The Legend of Grainger. Fort Lauderdale: Write Stuff Enterprises, Inc., 2002.|
According to Thomas J. Watson Jr's autobiography, Father, Son & Co. (Bantam, 1991), the IBM 360 was so named to suggest the 360 degrees of a circle, implying that it would meet every business and scientific need. Costing three-quarters of a billion dollars on engineering and four and a half billion dollars on factories, equipment and rental machines, it was the the biggest privately financed commercial project ever undertaken and a huge gamble for IBM. In fact, in dollar terms the project was substantially larger than the Manhattan Project in World War II.